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Complete Guide to USD SWIFT Transfers
Complete Guide to USD SWIFT Transfers
Everything You Need to Know Before Sending USD Internationally
Sending US Dollars (USD) internationally is common for business payments, overseas education, investments, and supplier settlements. One of the most widely used methods for transferring USD internationally is the USD SWIFT transfer.
In this guide, we explain how USD SWIFT transfers work, the information required to initiate a transfer, processing timelines, possible fees, compliance checks, and frequently asked questions — helping you send funds internationally with confidence.
1. What Is a USD SWIFT Transfer?
A USD SWIFT transfer is an international bank transfer sent in US Dollars (USD) through the SWIFT network.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global secure messaging system used by financial institutions to transmit payment instructions safely across borders.
USD SWIFT transfers are commonly used for:
International trade payments
Overseas supplier payments
Tuition fees
Property purchases abroad
Investment funding
Business settlements
2. How Does a USD SWIFT Transfer Work?
When you send a USD SWIFT transfer:
You submit the transfer request with beneficiary details.
The sending institution creates a SWIFT payment message.
The payment is routed through the international banking network.
The receiving bank credits the beneficiary’s account.
Because USD is globally traded and regulated, transfers may pass through one or more correspondent (intermediary) banks before reaching the final destination.
3. What Information Is Required to Send USD via SWIFT using DeeMoney?
To ensure smooth processing, accurate beneficiary details are essential.
You will typically need:
Beneficiary’s full name or legal name (must match bank records)
SWIFT/BIC code
Account number or IBAN (if applicable)
Beneficiary address
Purpose of payment
Incorrect or incomplete information may cause delays, rejection, or return of funds.
4. How Long Does a USD SWIFT Transfer Take?
USD SWIFT transfers typically take 1–3 business days, depending on:
Destination country
Banking hours and time zones
Public holidays
Compliance and regulatory screening
Intermediary bank processing
Please note that processing time is counted in business days and excludes weekends and public holidays in Thailand, receiving countries, and the United States.
5. What Are OUR and SHA Charges?
When sending a SWIFT transfer, the selected charge type determines how fees are allocated.
OUR
The sender pays all known transfer fees.
SHA (Shared)
The sender pays the sending fee, while the recipient pays intermediary and receiving bank fees. Any charges applied by intermediary or receiving banks may be deducted from the transferred amount.
Understanding these charge types helps manage expectations regarding the final credited amount.
Below is an overview of DeeMoney’s current service fees and transfer limits for USD SWIFT transfers.
Transfer Fees
For all customers:
OUR charge type: THB 799 per transaction
SHA charge type: THB 299 per transaction
Service fees are subject to change in accordance with company policy and regulatory requirements.
6. Why Might the Recipient Receive Less Than Sent?
In certain cases, the beneficiary may receive an amount that is slightly lower than the original USD amount instructed.
USD SWIFT transfers are processed through the international banking network. Depending on the payment route and destination, the transfer may pass through one or more intermediary (correspondent) banks before reaching the beneficiary’s bank. These intermediary banks may apply processing charges during the routing process.
Additionally, the beneficiary’s bank may apply its own incoming international transfer fee when crediting the funds.
As these charges are determined by the banks involved in the transaction, the final credited amount may vary from the original transfer amount. Such deductions are part of standard international banking procedures.
If precise crediting of the full instructed amount is required, customers are encouraged to confirm the receiving bank’s policies in advance.
7. Can USD SWIFT Transfers Be Sent to Multi-Currency Accounts?
Yes — provided the beneficiary’s account supports receiving USD via SWIFT.
If the account includes a USD balance, funds will be credited in USD.
It is recommended to confirm currency capabilities before sending.
8. Why Are USD Transfers Subject to Compliance Checks?
USD is regulated under US financial laws and international anti-money laundering (AML) regulations.
USD SWIFT transfers may be screened for:
Sanctions compliance
AML monitoring
Fraud prevention
Regulatory requirements
Compliance checks are normal and designed to protect the global financial system.
9. What May Cause Delays in USD SWIFT Transfers?
Delays can occur due to:
Incorrect beneficiary details
Missing supporting documents
Compliance review
Sanction screening
Public holidays
Bank cut-off times
Providing complete and accurate information helps reduce delays.
10. Can a USD SWIFT Transfer Be Rejected or Returned?
Yes. A transfer may be returned if:
Account number is incorrect
Account is closed
Beneficiary details do not match bank records
Payment purpose is restricted
Compliance concerns arise
Returned transfers may incur additional bank charges.
11. Can USD SWIFT Transfers Be Tracked?
Yes.
Each SWIFT transaction generates a reference number (such as MT103). This reference can be used for tracing or investigation if funds are delayed.
Tracking may require coordination between the sending and receiving institutions.
12. What Is an MT103?
An MT103 is a standardized SWIFT payment message used for international wire transfers between financial institutions.
In simple terms, it is the official payment confirmation document for a SWIFT transfer.
When a USD SWIFT transfer is sent, the sending institution generates an MT103 message that contains all the essential payment details. This message travels securely through the SWIFT network to ensure the funds are properly credited to the beneficiary’s bank.
13. Is USD SWIFT Transfer Safe?
Yes. SWIFT is one of the most secure and widely used international payment systems in the world.
All transfers are processed through regulated financial institutions and subject to strict security protocols.
However, customers should always verify beneficiary details carefully before sending funds.
14. USD SWIFT vs Local Transfer – What’s the Difference?
Feature USD SWIFT Transfer Local Transfer
Network International Domestic
Currency USD Local currency
Processing Time 1–3 business days Same day / 1 day / Maximum 3 business day
15. Can USD SWIFT Transfers Be Sent to a Brokerage Account?
Yes. USD SWIFT transfers can generally be sent to a brokerage or investment account, provided the brokerage firm accepts international wire transfers in USD.
Before initiating the transfer, it is important to carefully review the brokerage’s funding instructions.
What Should Be Confirmed Before Sending?
Customers are advised to verify:
The brokerage accepts USD via SWIFT
The correct beneficiary name is used (often the brokerage company’s official name, not the investor’s personal name)
The correct SWIFT/BIC code and bank details are provided
The required client reference or trading account number is included
Including the correct reference number is essential to ensure the funds are properly credited to the intended trading account.
Important Note on Beneficiary Name
In many cases, the beneficiary name must match the brokerage company’s registered bank account name. The investor’s personal name is typically included in the reference field rather than as the beneficiary.
Failure to follow the brokerage’s exact funding instructions may result in delays in allocation.
Customers are encouraged to confirm all funding details directly with the brokerage prior to initiating a USD SWIFT transfer to avoid delays or allocation issues.
Processing and Compliance
USD transfers to brokerage accounts may be subject to standard regulatory and compliance screening, including anti-money laundering (AML) and sanctions checks.
16. Can a USD SWIFT Transfer Be Cancelled or Amended After Submission?
Once a USD SWIFT transfer has been submitted and processed, cancellation or amendment is not guaranteed.
Because SWIFT transfers are transmitted through the international banking network, payment instructions may be processed quickly by intermediary and receiving banks. Once the funds have been credited to the beneficiary’s bank, the transaction generally cannot be reversed without the beneficiary’s consent.
When Is Cancellation or Amendment Possible?
A cancellation or amendment request may be considered if:
The request is made shortly after submission
The payment has not yet been fully processed or credited
The receiving bank agrees to return the funds
Each case is subject to review and approval by the banks involved.
Important Considerations
Cancellation or amendment requests do not guarantee recovery of funds.
Processing times for investigations or recall requests may vary.
Additional bank charges may apply for recall services.
If the funds have already been credited, the beneficiary’s cooperation may be required.
What Should Customers Do?
If you notice an error in beneficiary details or payment information, contact the sending institution immediately to request assistance. Acting promptly increases the likelihood of a successful recall or cancellation.
17. Important Reminders Before Sending USD via SWIFT
Before initiating a transfer:
✔ Double-check beneficiary details ✔ Confirm SWIFT/BIC code ✔ Confirm account currency capability ✔ Understand possible fee structure ✔ Prepare supporting documents if required
Taking these steps can help ensure smooth and efficient processing.
18. Transfer Limits
Business Customers
Maximum THB 800,000 per transaction Maximum THB 800,000 per day
Individual Customers
Maximum THB 500,000 per transaction Maximum THB 800,000 per day
Transfer limits may be subject to regulatory requirements, compliance review, and account verification status.
19. Supported Countries for USD SWIFT Transfers
DeeMoney currently supports USD SWIFT transfers to selected countries as listed below.
Please note that supported destination countries may be updated, added, restricted, or removed from time to time based on business decisions, regulatory requirements, risk assessments, or operational considerations.
Customers are encouraged to check the latest supported country list on our official website or contact our customer service team prior to initiating a transfer.
Andorra
Australia
Austria
Bangladesh
Belgium
Bulgaria
Cambodia
Canada
China
Croatia
Czechia
Cyprus
Denmark
Estonia
Finland
France
Germany
Greece
Hong Kong
Hungary
Iceland
India
Indonesia
Ireland
Italy
Japan
Latvia
Liechtenstein
Lithuania
Luxembourg
Malaysia
Malta
Monaco
Nepal
Netherlands
New Zealand
Norway
Pakistan
Philippines
Poland
Portugal
Romania
San Marino
Singapore
Slovakia
Slovenia
South Korea
Spain
Sri Lanka
Sweden
Switzerland
United Arab Emirates
United Kingdom
Vatican City
United States
Vietnam
Laos
Kazakhstan
Nigeria
Taiwan
Oman
Israel
Saudi Arabia
Egypt
Kenya
Brazil
Mexico
Peru
Argentina
Jamaica
Turkey
Ukraine
Armenia
Albania
Morocco
Tanzania
Uganda
Georgia
Senegal
Qatar
Bahrain
Colombia
Jordan
Maldives
Kuwait
Ghana
Chile
Panama